16/07/2019 - 16:34

Perth Mint launches ETF with $64m coin

16/07/2019 - 16:34

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The Perth Mint has created the largest ever coin to celebrate the official launch of its Physical Gold Exchange Traded Fund on the New York Stock Exchange last night.

The Australian Kangaroo coin preparing to be lifted.

The Perth Mint has created the largest ever coin to celebrate the official launch of its Physical Gold Exchange Traded Fund on the New York Stock Exchange last night.

The 'Australian Kangaroo' coin is recognised by the Guinness World Records as the largest coin ever created, tipping the scales at 1,000 kilos of 99.99 per cent pure gold, and measuring 80 centimetres wide and 13 centimetres deep.

The Perth Mint said the coin is valued at $64 million and was created to showcase Australian gold internationally.

Perth Mint chief executive Richard Hayes will be joined by other senior executives from the mint and their US counterparts to ring the bell to signal the end of the trading day on Wall Street.

Mr Hayes said the gold ETF was its latest move to take Australian gold global.

“Given the maturity of the American market and the understanding by US investors of the importance of holding gold in any wealth portfolio, it was an obvious choice to bring AAAU ETF to market in the world’s share trading capital,” he said.

“The fund may be considered a modern investment option for even the most conservative of investors as it offers several features which potentially provide investors with comfort that their gold is easily accessible and safeguarded.”

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